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According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, as of 11/10/2009, there are 161 single family residential homes on the market priced from $210,000 for a 1300 sq. ft , 3 bed/1 bath home with in poor shape on a 7560 sq. ft. lot to a high of $2,499,000 for a new construction, 6273 sq. ft., 5 bedroom/ 5.5 bath, 3 car garage home on a 18,900 sq. ft. lot. The average list price per sq ft is $233.30. Forty six homes are for sale for over $1,000,000 and 35 homes are priced at $400,000 or less. As of 11/10/2009 there are an additional 36 homes pending under contract priced from $185,900 to $3,490,000. This is 9 more pending than last month.
In August 2009, 20 sales closed with an average sales price per average sq. ft. of $196.88. The low sales price was $245,000 for a 3 bed/ 1 bath, 1290 sq. ft. home on a 5000 sq. ft. lot. The highest reported sales price was $1,675,000 for a 2006 built, 5689 sq. ft., 4 bed/4 full, 2 half bath/2 car garage home on a 9750 sq. ft. lot.
In September 2009, 21 sales closed with an average sales price per average sq. ft. of $194.28. The low sales price was $216,500 for a 2 bed/ 1 bath, 987 sq. ft. home on a 5125 sq. ft. lot. The highest reported sales price was $1,317,500 for a 2005 built, 6088 sq. ft., 5 bed/5.5 bath/2 car garage home on a 8450 sq. ft. lot.
In October 2009, 15 sales closed with an average sales price per average sq. ft. of $189.63. The low sales price was $255,000 for a 3 bed/ 1 bath, 1183 sq. ft. home with some updates on a 8125 sq. ft. lot. The highest reported sales price was $990,000 for a new construction, 4630 sq. ft., 4 bed/3.5 bath/3 car garage home on a 8700 sq. ft. lot.
There are presently reported to be 5 townhomes actively on the market, priced from $239,900 to $270,000. The average sales price per average sq. ft .price is $140.44. One is pending and under contract. One sold in October for $258,000, an average of $136.65 per sq. ft.
New construction in Bellaire has declined although the prices are holding firm for the most part. Most builders are carrying less inventory due to tighter lending requirements and slower sales, so many of the new homes are custom homes. With inventory up, the housing tax incentives, and interest rates at a near 50 year low, it makes it an attractive time to buy.
ZIP Code: 77401
Location Characteristics: Bellaire, Texas, located on both sides of Interstate Loop 610 West, is surrounded by Houston and many subdivisions including West University Place, Southside Place, Meyerland, Willow Meadows, and Afton Oaks. It's a very short distance to the Galleria, Reliant Stadium, downtown Houston, the Theater District, and the Medical Center.
Bellaire is zoned for residential,commercial, and light industrial sections. The city is well known as a residential city. The city is well-liked for its police and fire protection, parks and recreation facilities, library, public works department, and recycling center.
For the most part, construction in Bellaire originated in the late 40's and 50's. Many of these original homes have been and are being purchased at lot value with the old homes being replaced with larger, new construction homes.
For More Information:
View Market Conditions of other areas served by Meg & Jim Zoller of The Zoller Group
Navigate: Top > Texas > Bellaire
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
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